For a number of months now there has been widespread speculation with regards to property values in the UK, with many experts predicting that house prices – although unlikely to crash – are set to fall over coming months. Data from a series of surveys and studies has backed up these predictions, and the past few weeks have already seen a weakening housing market with falling property prices. Read the rest of this entry »
Popularity: 14% [?]
Concerns over the effect that interest rate rises will have on homeowners that are currently in cheap fixed rate deals have been rife for some time. There are many homeowners that took out cheap fixed rate mortgage two or three years ago, with many paying under 4.5% on their mortgage loan. However, between August 2006 and July 2007 interest rates rose five times, taking the base rate from 4.5% to 5.75%. Between July and November the base rate remained unchanged at 5,75% but at the beginning of December the Bank of England cut the base rate by 0.25% bringing it back down to 5.5%. Read the rest of this entry »
Popularity: 17% [?]
Over the past year the popularity of fixed rate mortgage has been rising, and this has been largely due to a series of five interest rate rises that have taken place since August 2006. With each of these interest rate rises more and more homeowners and first time buyers were panicking over how they would keep up with their rising mortgage repayments. For many, taking out or remortgaging to a fixed rate deal was the most effective solution, as this meant that they would no longer have to cope with the effects of further interest rate rises. Read the rest of this entry »
Popularity: 77% [?]
UK homeowners with variable rate mortgages have had a rough twelve months, with five interest rates of 0.25% having been applied to the base rate since August of last year, taking the base rate from 4.5% to 4.75%. many homeowners on variable rate loans have seen their repayments rocket over the past year, and this has put a large number of homeowners in a difficult position, as they are struggling to keep up with repayments on their home, and, as predicted by many experts and industry officials, the level of repossession taking place has rocketed. Read the rest of this entry »
Popularity: 70% [?]
Officials from the Bank of England have stated that the level of new mortgage approvals in the UK dipped in December, and that this was the seventh month in a row where mortgage approval levels had fallen. In November 2007 there were around 81,000 new mortgage approvals according to recent figures, and this fell to 73,000 in December 2007. Read the rest of this entry »
Popularity: 75% [?]
Financial stability for many homeowners in the UK has become increasingly difficult as a result of the interest rate rises that have been enforced by the Bank of England over the past year. Homeowners are having to pay out more in the way of mortgage repayments, which has left them with lower levels of cash to deal with other bills and repayments, and many are struggling hugely to keep up with repayments on their bills and other financial commitments. Read the rest of this entry »
Popularity: 69% [?]